EcoVadis: Vendor Analysis (Part 3) — Competitive and Summary Analysis

In this Spend Matters Vendor Snapshot series, we have been analyzing EcoVadis, a provider of a cloud-based corporate social responsibility (CSR) and sustainability rating and monitoring “Solution” (with a capital “S” to denote a solution that transcends software) for your critical supply chain suppliers. The supplier and buyer friendly platform allows suppliers to self-register, complete a profile customized to them based on their UN ISIC industry code (and country and size), upload all relevant documentation and get assessed/rated for a 12-month period. As we wrote in our last installment of this series: 

“The EcoVadis CSR rating is not a formal certification from a regulatory agency, but the criteria is interestingly built up as a "best of breed" superset of requirements from existing CSR standards such as Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000. This relevance helps improve attractiveness and adoption by organizations who don't want to re-invent the wheel and can use a single rating to also help comply with the other certifications that are in force within their supply chain.”

This final installment of our multipart Spend Matters PRO Vendor Snapshot series covering EcoVadis offers a SWOT analysis, competitive assessment and comparison with other similar and “crossover” providers in the supplier management market which also address ratings, CSR, risk and related initiatives. It also includes a user selection guide and summary evaluation and selection considerations. Part 1 and Part 2 of this PRO research series provide a company and deep-dive solution overview, product strengths and weaknesses and a recommended fit analysis for what types of organizations should consider EcoVadis.